Intrepid Potash (NYSE:IPI) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Several other research analysts also recently weighed in on the stock. UBS Group upped their target price on shares of Intrepid Potash from $23.00 to $25.00 and gave the company a “sell” rating in a research note on Tuesday, January 4th. Zacks Investment Research downgraded shares of Intrepid Potash from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 20th. Finally, BMO Capital Markets upped their target price on shares of Intrepid Potash from $27.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Intrepid Potash presently has an average rating of “Hold” and an average target price of $36.25.
Intrepid Potash stock opened at $46.23 on Friday. Intrepid Potash has a 52-week low of $22.82 and a 52-week high of $52.91. The firm has a fifty day moving average of $42.36 and a 200-day moving average of $38.95. The firm has a market capitalization of $621.47 million, a P/E ratio of 24.46 and a beta of 2.23.
In other Intrepid Potash news, major shareholder Clearway Capital Management Ll sold 10,000 shares of the stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $46.46, for a total transaction of $464,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 26.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Intrepid Potash by 48.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 134,540 shares of the basic materials company’s stock worth $5,749,000 after purchasing an additional 43,915 shares during the period. Sei Investments Co. acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $552,000. CastleKnight Management LP acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $10,965,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $336,000. Finally, PDT Partners LLC acquired a new stake in shares of Intrepid Potash during the fourth quarter worth $393,000. Hedge funds and other institutional investors own 36.59% of the company’s stock.
Intrepid Potash Company Profile
Intrepid Potash, Inc engages in the delivery of potassium, magnesium, sulfur, and salt essential. The firm serves the agriculture, organics, animal feed, industrial, and oilfield solutions industries. It operates through the following segments: Potash, Oilfield Solutions, and Trio. The company was founded in January 2000 and is headquartered in Denver, CO.
